House Democrats introduced a bill targeting Trump’s $TRUMP meme coin, aiming to ban officials from profiting off personal crypto.
The MEME Act would prohibit government leaders and their families from issuing, endorsing, or sponsoring digital assets.
With Republicans controlling Congress, the bill is unlikely to pass, but Democrats are using it to rally support for future crackdowns.
While Trump’s allies on Capitol Hill are busy pushing to put his face on a $250 bill or even Mount Rushmore, House Democrats are going after his $TRUMP meme coin instead.
ICYMI: 🇺🇸 Democrats to introduce the 'Modern Emoluments and Malfeasance Enforcement (MEME) Act'
Aiming to prohibit high-ranking officials and their families from issuing or endorsing cryptos
Since launching just over a month ago, $TRUMP has tanked in value, with early investors dumping their holdings and billions in market value vanishing overnight. Now, hundreds of thousands of holders are in the red, and lawmakers are paying attention.
New Bill Seeks to Ban Officials from Issuing or Promoting Crypto
California Rep. Sam Liccardo (D) announced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, a bill that would prohibit government officials and their families from profiting off personal meme coins.
The bill would ban the president, vice president, members of Congress, and senior executive officials from issuing, sponsoring, or endorsing crypto, securities, commodities, or futures.
Liccardo accuses Trump and Melania of cashing in on their memecoins, enriching early investors while the public took massive losses.
The bill aims to impose civil and criminal penalties, including retroactive provisions targeting $TRUMP.
“Let’s make corruption criminal again,” Liccardo said, arguing that public office should serve the people, not personal financial interests.
With Republicans controlling both the House and Senate, Liccardo’s proposal is unlikely to become law anytime soon.
Still, he’s rallying support for future Democratic majorities, framing the bill as a crackdown on insider trading and foreign influence in the White House.
The legislation also extends beyond crypto, prohibiting federal officials from promoting or profiting off assets like Truth Social stock.
Liccardo claims to have a dozen Democratic co-sponsors already, with plans to introduce the bill on Thursday.
For now, the $TRUMP coin saga continues—and while the bill may not pass immediately, the debate over politicians and personal crypto profits is far from over.
